German IoT network services operator 1NCE has raised $50M (approx €43M) in funding to accelerate its growth in the US and Asia. The capital was provided by investors including Deutsche Telekom, SoftBank, and other investors.
Fund utilisation
According to the company, the funding will be used to accelerate international expansion, and develop its cloud-based IoT platform services.
The capital raised will be also used to recruit key talent to expand its product capabilities to simplify the development of cellular-based IoT solutions globally.
“With SoftBank, we have gained an investor who brings in expertise from investments in telecommunications, internet services, AI, smart robotics, IoT, and clean energy technology providers,” emphasised Alexander P. Sator, CEO and founder of 1NCE. “We are thrilled to work with them to leverage the new opportunities in Asia and the US that come with the engagement.”
Deutsche Telekom: What you need to know
Based out of Bonn, Germany, Deutsche Telekom is a telecommunications company that offers a range of fixed-network services. The telecom giant has been on board as a seed investor since its inception and uses 1NCE technology for its own IoT offerings.
Timotheus Höttges, CEO of Deutsche Telekom, adds: “1NCE has already demonstrated its disruptive potential in the IoT market, and its growth to date has underpinned its claim to leadership in cellular-based connectivity services. As a technology partner from the very first hour, we are happy to actively foster further growth.”
1NCE: What you need to know
Founded in 2017, 1NCE offers cellular device connectivity at a fixed price in over 100 countries via 2G, 3G, 4G, 5G, NB-IoT, and LTE-M with
Its cloud-based connectivity platform includes IoT services such as plug-and-play setup and device management.
The company provides customers with the tools to efficiently scale and manage their IoT deployments while providing a transparent cost structure. It makes IoT applications such as tank maintenance, smart metering, or vehicle telematics affordable.
To date, the company manages 10 million connections for over 7,000 business customers from around the globe. Its services are available through direct sales and online channels.
Additionally, the company is a premium technology partner of Amazon Web Services with exclusive offerings for developers on AWS Marketplace.
Headquartered in Cologne, 1NCE employs around 100 people in Cologne, Hamburg, Amsterdam, London, Rome, Paris, Warsaw, and Riga.
Partnership with Marelli Motorsport
In June, the German company announced a partnership with Marelli Motorsport to develop new real-time tracking solutions in the world of motorsport.
Marelli Motorsport is currently developing new telemetry systems to collect the real-time car and engine data, such as acceleration, g-force, speed, motor temperature, etc. As a part of the deal, 1NCE will deliver worldwide IoT connectivity for real-time data analysis.
Increasing bandwidth
In May, 1NCE increased the bandwidth for cellular IoT devices for new and existing customers from 128 kbit/s to up to 1 Mbit/s. As per the company, The increase in bandwidth benefits all 3G, 4G, and especially LTE-M applications, which can fully utilise this bandwidth by the specification.
